The Securities and Exchange Commission has announced that investment management firm Pacific Investment Management Company (PIMCO) agreed to retain an independent compliance consultant and pay nearly $20m to settle charges that it misled investors about the performance of one its first actively managed exchange-traded funds (ETFs) and failed to accurately value certain fund securities.

Pimco co-founder Bill Gross won access to some of the firm’s internal records he says will show he was forced to resign two years ago so his former colleagues could divvy up his $200m bonus among themselves.

Allianz Asset Management, the new name for the holding company of Allianz’s asset management division, has announced a new corporate structure effective January 1, 2012, which will more clearly define two discrete investment management businesses, namely PIMCO and Allianz Global Investors.

Bill Gross of PIMCO spoke to Bloomberg Television’s Stephanie Ruhle, Adam Johnson and Alix Steel on 'Lunch Money' Wednesday, reiterating comments in his monthly outlook that the age of credit expansion that led to double digit returns is over.